Reflections on Secular Stagnation
Reflections on the new 'Secular Stagnation hypothesis'
This column by Larry Summers – first published in the Vox eBook “Secular Stagnation: Facts, Causes and Cures” – explains the idea. It argues ...
What we have is an over-supply of savings. (relative to a shortage of – investment – demand). Ergo: we arrive at secular stagnation and we can.
3. Rethinking Secular Stagnation after Seventeen Months in
The idea that there is a chronic excess of saving over investment (i.e., secular stagnation) and the idea that there is a savings glut kind of sound the same.
U.S. Secular Stagnation? | Cato Institute
The secular stagnation thesis in a Keynesian form was popularized by Harvard University economist Alvin Hansen. In his presidential address to ...
Full article: Secular stagnation: The history of a macroeconomic heresy
The paper presents a history of the concept of “secular stagnation”, from Alvin Hansen in the 1930s and 1940s to its recent revival by Larry Summers.
Debate: Stiglitz vs. Summers on Secular Stagnation
NEW YORK – In the aftermath of the 2008 financial crisis, some economists argued that the United States, and perhaps the global economy, was ...
Secular Stagnation: Why and Why Not? - Econlib
There is either over-saving or under-investment. Reality is described as either the one or the other. The vast population of macro-economists ...
A brief history of secular stagnation | World Economic Forum
Hansen presented secular stagnation as a historical thesis concerning the US economy when the 1937-8 recession – which happened before full ...
[PDF] Wall of Worries: Reflections on the Secular Stagnation Debate ...
This paper offers some reflections on the debate over secular stagnation. It expresses doubts about explanations for the secular decline in real interest ...
Some Thoughts on Secular Stagnation, Loanable Funds and the ZLB
I have read the various conference papers and am struck by the fact that many use the (omnipresent New-Keynesian) model of an aggregate ...
Demand Side Secular Stagnation
It in turn implies bounds on other interest rates that reflect term and credit premia. With demand a function of real interest rates which in ...
Wall of worries : reflections on the secular stagnation debate - EconBiz
Wall of worries : reflections on the secular stagnation debate ; Publisher: Tokyo : Inst. for Monetary and Economic Studies, Bank of Japan ; Subject: Secular ...
Secular stagnation or financial cycle drag?
The reasons are unclear, but may reflect, at least in part, the fact that overindebtedness and a broken banking system make it harder to ...
Macroeconomics in the Age of Secular Stagnation | Cairn.info
The secular stagnation hypothesis is interpreted as an abundance of savings that pushes the “natural” real interest rate (defined by Wicksell in 1898 as the ...
A two-handed approach to secular stagnation - ScienceDirect.com
Why the 1930s provide a useful perspective on current concerns over secular stagnation should be obvious. The Great Depression of the 1930s and the Great ...
Secular Stagnation: Evidence and Implications for Economic Policy
This paper investigates whether OECD countries are facing secular stagnation. Secular stagnation is defined as a situation when policy ...
Larry Summers' IMF speech on secular stagnation partially shifted the attention from the crisis to the long run challenges facing advanced ...
Full article: Stagnation and the Natural Rate of Interest
The main advocate of secular stagnation, Alvin Hansen, drew on the American Institutionalist tradition, not Wicksell. Postwar Keynesians did not pursue the idea ...
Japan and the Lessons of Secular Stagnation | Research
Once regarded as a uniquely Japanese malady, the phenomenon of anemic growth amid persistently low inflation and interest rates is now ...
Reflections on the 'new secular stagnation hypothesis' - Future Skills ...
Reflections on the 'new secular stagnation hypothesis'. Baldwin, R. and Teulings, C. share. Email Print Twitter LinkedIn Follow. Six years after the Global ...